JSW Group Targets USD 70 Billion Investment by 2030

17 Jun 2024 CW Team

The JSW Group has announced a substantial revision to its investment target, aiming to reach USD 70 billion by 2030. This updated figure includes a USD five billion allocation for electric vehicle (EV) projects in Odisha, first announced earlier this year.

The cornerstone of the Odisha initiative is a 50 GWh EV battery plant, complemented by facilities for EV manufacturing, a lithium refinery, copper smelter, and related component manufacturing units. This ambitious project underscores JSW's commitment to bolstering India's EV ecosystem and enhancing domestic manufacturing capabilities.

In addition to the EV venture, JSW Group plans to expand its footprint across key sectors such as steel, cement, and electricity generation. This expansion strategy aligns with the Group's broader growth objectives and aims to capitalize on emerging opportunities in India's industrial landscape.

JSW Group had initially outlined an investment target of USD 65 billion by 2030 in 2023. The flagship company, JSW Steel, is set to invest nearly Rs 65,000 crore over the next three years, including significant capital expenditure for the Dolvi project in Maharashtra. This initiative will boost JSW Steel's total capacity to 43.5 million tonnes of steel, reaffirming its position as a leading player in the Indian steel industry.

The revised investment plan underscores JSW Group's commitment to sustainable growth and underscores its pivotal role in driving India's industrial and economic development in the coming decade.

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